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giving pledge

This month, 12 more billionaire families committed to donate at least half of their wealth to charity by taking the Giving Pledge. Here are introductions to some of the new signatories and their pet philanthropic projects.

Theodore J. "Ted" Forstmann died on Sunday from complications related to brain cancer. The private equity pioneer's firm, Forstmann Little & Co., was one of the first to engage in leveraged buyouts -- using borrowed money to buy companies.

Famed investor Warren Buffett announced that 40 billionaires have committed to donate at least 50% of their fortunes to charity as part of the Giving Pledge, a project that targets America's richest to pledge to donate their wealth.